GoPro shares nose dives 20.02 percent in after-hour trading after dismal third-quarter results failed to keep investors optimistic about the company’s outlook. For more on the crowd’s sentiments on GoPro, stay with Sentifi.
GoPro: Revenue drops 40 percent in the third quarter
The company reported a loss of $104 million during Q3, a dip that is abysmal considering it made $18.7 million in profit just a year ago. CEO Nick Woodman also expected Q4 sales to be lower than estimate due to production issues for two new products, which are the Hero 5 camera and the Karma drone. The company’s shares have lost 52 percent in the past year, and this year is doing too little to get the shares back to its former value.
Central Bank of Egypt: Devalues the currency by 48 percent in exchange for an IMF loan
Desperate times call for desperate measures. The bank had to devalue its currency to meet an important demand set by the International Monetary Fund in exchange of a $13 billion loan over three years to overhaul the country’s economy. The bank also increased the interest rates by 3 percent in an attempt to rebalance the currency markets following turbulence.
Fitbit Inc.: Shares dipped 33 percent overnight
The company lost 66 percent of its market value in the past year, as worries that the world’s interest in wearable fitness devices has peaked. The company saw a slowdown in year-over-year revenue growth in the third quarter while predicting the revenue growth for the fourth quarter to be 2 percent to 5 percent, lower than analysts’ estimate.
Beiersdorf: Reports positive numbers in the third quarter
The company saw group sales rise organically by 2.9 percent. Its brand Nivea did very well in Asia, serving as the main contributor to the raise in sales. Nevertheless, the board warned of difficult markets in many countries, citing intensifying competition and declining growth rates.
Whole Foods: Posts better-than-expected Q4 results, shakes up management structures
The company earned 28 cents per share, compared to analysts’ estimate of 24 cents per share. However, same-store sales fell 2.6 percent. The company forecasts tos 2017 EPS to be $1.42 versus the consensus of $1.47. The company also did away with its dual-CEO setup, with co-founder John Mackey taking the sole CEO position while co-CEO Walter Robb will step down.
Axel Springer: Achieves significant growth in Q3 earnings
The company profited big from the sustained growth momentum of the digital business models, as EBITDA increased by 5.8 percent, revenues grew organically by 4.7 percent, and revenues from digital media grew organically by 10.6 percent. The company is developing its digital business further with the expansion of its U.S. operations and the acquisition of 93 percent of eMarketer shares.
Vonovia SE: Reports strong earnings growth in the first nine months
The company plans to increase its investment to a record level in 2017 to continue growing as the real estate’s boom shows no sign of slowing down. Investors have all the reasons to be joyful as the dividend is also expected to rise.
Air France-KLM: Posts a 13.1 percent increase in Q3 net income
But the revenue dropped 5 percent due to seven-day cabin crew strike in July and August this year. Going forward, the company will continue to restructure its cargo activity to address the weak global trade and structural air cargo industry overcapacity. It also predicts more pressure from fuel price volatility, overcapacity on several markets, as well as a special concern about France being a destination.
The Kraft Heinz Co.: Q3 sales disappoint, fails to meet estimate
The company’s quarterly sales fell 1.5 percent as changing consumer tastes continue to present more challenges. Demand is shifting aways from packaged foods and toward fresher and healthier choices, forcing the company to adjust its products. A strong dollar and pricing pressure in Europe also impacted the company’s sales.
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